Essex Property Trust (NYSE:ESS) Price Target Cut to $300.00

Essex Property Trust (NYSE:ESSGet Rating) had its price objective decreased by equities research analysts at Barclays from $310.00 to $300.00 in a research report issued on Thursday, The Fly reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s price target suggests a potential upside of 14.97% from the stock’s previous close.

A number of other brokerages have also recently weighed in on ESS. Capital One Financial restated an “equal weight” rating on shares of Essex Property Trust in a research note on Thursday, August 18th. BMO Capital Markets cut Essex Property Trust from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $378.00 to $320.00 in a research note on Tuesday, May 31st. Morgan Stanley decreased their price objective on Essex Property Trust from $313.00 to $270.00 and set an “equal weight” rating for the company in a research note on Friday, July 15th. KeyCorp decreased their price objective on Essex Property Trust from $371.00 to $314.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Finally, Raymond James reaffirmed an “upgrade” rating and set a $300.00 target price on shares of Essex Property Trust in a research report on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $309.29.

Essex Property Trust Price Performance

Shares of ESS stock opened at $260.93 on Thursday. Essex Property Trust has a twelve month low of $250.62 and a twelve month high of $363.36. The stock has a market capitalization of $16.99 billion, a price-to-earnings ratio of 44.15, a P/E/G ratio of 2.89 and a beta of 0.79. The stock has a fifty day simple moving average of $276.11 and a two-hundred day simple moving average of $298.45. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.00.

Institutional Trading of Essex Property Trust

A number of hedge funds have recently modified their holdings of ESS. Pictet Asset Management SA boosted its stake in shares of Essex Property Trust by 1.7% in the fourth quarter. Pictet Asset Management SA now owns 48,531 shares of the real estate investment trust’s stock worth $17,094,000 after buying an additional 800 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of Essex Property Trust by 111.2% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 10,228 shares of the real estate investment trust’s stock worth $3,603,000 after buying an additional 5,386 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of Essex Property Trust by 102.5% in the fourth quarter. Ensign Peak Advisors Inc now owns 28,691 shares of the real estate investment trust’s stock worth $10,107,000 after buying an additional 14,523 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Essex Property Trust by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 602,757 shares of the real estate investment trust’s stock worth $212,310,000 after buying an additional 13,732 shares during the last quarter. Finally, Vert Asset Management LLC purchased a new stake in shares of Essex Property Trust in the fourth quarter worth about $3,785,000. Hedge funds and other institutional investors own 91.57% of the company’s stock.

Essex Property Trust Company Profile

(Get Rating)

Essex Property Trust, Inc, an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development.

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